Cypress Equities* announced today that it has finalized the transaction accomplishing the sale of eight Walmart Neighborhood Market properties located in Alabama and South Carolina.
Cypress has served as a preferred developer in the Walmart Neighborhood Market build-to-suit program that was established in January 2014 with the goal of accelerating the development of the Neighborhood Market concept stores.
“Cypress, via this program, provided Walmart with flexible, speed-to-market execution of the company’s expansion efforts,” stated Chris Maguire, chief executive officer for Cypress.
Cypress has successfully constructed and opened twenty Walmart Neighborhood Market properties during the last three years. This latest transaction represents the final disposition in the 20-store portfolio that also included locations in Texas.
Listing brokers for the portfolio include Glen Kunofsky, Lauren Veres, Mike James and Don McMinn at Marcus & Millichap; Pat R. Luther, Matt Mousavi, Kyle Stonis and Ryan Hoff of SRS Real Estate’s National Net Lease Group; and Brad Moulder of Stan Johnson Company.
About Cypress Equities
Cypress Equities* (Cypress) was founded in 1995 and has since established a national reputation synonymous with the premier development, operation and management of destination-class retail and mixed-use properties throughout the U.S. Historically, Cypress has developed and acquired more than 18 million square feet and currently is developing and managing a portfolio of more than 13 million square feet of space, primarily focused on retail and mixed-use properties. Today, there are seven Cypress Equities offices throughout the U.S., including Dallas (headquarters), Chicago, New York, San Francisco, Atlanta, Phoenix and Fort Lauderdale. Visit www.cypressequities.com for more information.